Invoca, the leader in conversation intelligence for revenue teams, announced that it has acquired DialogTech, an AI-powered call tracking and analytics solution for marketers, in a combined cash and stock deal.
With this acquisition, Invoca extends its leadership in the $4.8 billion conversation intelligence market and is on track to exceed $100 million in revenue. The company now has over 2,000 customers, more than 300 employees, and serves the top consumer brands in considered purchase industries, including ADT, AutoNation, DISH, Mayo Clinic, TELUS, and The Home Depot.
This acquisition comes at a major inflection point for the conversation intelligence category. Due to recent policy changes from Apple and Google, brands can no longer rely on third-party cookie data to drive their marketing campaign strategies. At the same time, call volume is surging due to changes in buying behavior brought on by the pandemic. So, brands are increasingly relying on robust first-party data from conversations to better understand those consumers and make critical business decisions, the company said in its statement.
“In this digital era, companies are embracing AI to better understand their consumers and changing market dynamics. In industries where consumers are making complex buying decisions–like financial services, health care, and automotive–brands need to embrace the right combination of digital experience and human expertise,” said Gregg Johnson, CEO of Invoca, who will lead the combined company. “With the acquisition of DialogTech, Invoca strengthens our AI-powered conversation intelligence platform. Together, we will empower marketing, sales, and eCommerce teams to optimize digital + human buying experiences and accelerate revenue growth.”
“This move enables us to be an even better partner to enterprises and agencies looking to optimize their marketing and drive sales,” said DialogTech CEO, Doug Kofoid. “Together as Invoca, our combined company will deliver an unrivaled solution for conversation intelligence, with the most innovative technology, expertise, experience, and resources in our industry.”
The acquisition of DialogTech follows Invoca’s recent release of Invoca for Sales, expanding its solution set to serve revenue teams in contact center sales as well as marketing, customer experience, and eCommerce.
As part of the transaction, DialogTech divested the Swydo operating unit. Swydo will continue to partner as an independent entity with Invoca and DialogTech.
Union Square Advisors LLC acted as exclusive financial advisor to DialogTech.
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